Tax Tip Tuesdays

Tax Tip Tuesday: Second Verse, Not The Same As The First

April 17th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Today is the last day of tax season.  You may be happy that a refund is coming, or you may be steamed at the amount of taxes you had to pay.  Regardless, the experience you had for the 2017 tax season likely will be […]

Tax Tip Tuesday: Higher Income Means More Taxes

April 10th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

While the new tax laws for 2018 have lowered income tax rates generally, there’s still some bites of the apple that Uncle Sam plans to take from higher income earners. While many tax thresholds are indexed for inflation, like the AMT tax exemption, taxes […]

Tax Tip Tuesday: Is My Social Security Taxable?

April 3rd, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

At one time, all Social Security benefits were tax free. Today, if your only source of retirement income is Social Security, then it may still be tax free. But the higher your income, the more taxes you’ll pay on your benefits.

Taxes on Social Security […]

Tax Tip Tuesday: Tax Tips for Parents

March 27th, 2018|

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Being a parent can be both exhilarating, and chaotic and the financial implications can be complicated, particularly at tax time. However, parents can check out these tips to help lower tax bills and/or lead to a larger refund:

There are a number of tax credits […]

Tax Tip Tuesday: Yes, You Can Direct Deposit Your Tax Refund into Your IRA!

March 20th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

If you haven’t yet filed your tax return and are expecting a refund this year, there is an easy way to turn that refund into retirement savings without being tempted to spend it. Did you know you can direct deposit your tax refund into […]

Tax Tip Tuesday: SEP IRAs and Other Retirement Plan Reminders

March 13th, 2018|

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

It’s that time of year where the attention of many business owners quickly turns to tax season and ways to reduce taxes—while increasing savings.

For small business owners looking for 2017 tax deductions, along with a way to jump start your retirement savings, the SEP IRA […]

Tax Tip Tuesday: Extra Time to Contribute To Your IRA

March 6th, 2018|

By Theresa Fry, Senior Vice President and Manager, IRA’s and Retirement Planning

It’s not too late. You can still make a contribution for 2017 to your Roth IRA, traditional IRA, or SEP IRA (if you are self-employed). This year there is a little extra time for everyone. All individuals have until Tuesday, April 17, 2018 to […]

Tax Tip Tuesday: Watch Out for Tax Scams

February 27th, 2018|

By Jeffrey R. Wolfe, Senior Vice President, Manager of Wealth Planning Strategies

Unfortunately, identity theft and consequential tax refund kidnapping continues to rise during tax season. Once again the IRS has declared identity theft as the biggest risk to taxpayers. Also increasing are email schemes to swindle refunds and filing information. In 2016, the IRS reported […]

Tax Tip Tuesday: Seven Questions to Ask Your Tax Preparer

February 20th, 2018|

By Kortney Christensen, CFP®, Executive Vice President, Director of Sales and Marketing

Has your tax return gotten just too complicated to handle on your own? Or maybe you just don’t have the time to fill out all those forms. If you’ve decided to hire a tax pro, start the tax season off right by working effectively […]

Tax Tip Tuesday: Don’t File Your Taxes Too Early

February 13th, 2018|

By Edward “Ed” V. O’Neal, Vice President and Manager, Retirement Plans

Like most decisions, there are both pros and cons to filing tax returns early. In general, filing early works best for individuals with simple tax returns or perhaps those anticipating a refund. However, for many taxpayers there could be benefits to delaying their filings, including:

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